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July has turned out to be the best month for the fledgling Indian Gas Exchange, a subsidiary of the Indian Energy Exchange. The exchange began trading in gas on December 2 last year, but the volumes traded last month accounted for 44 per cent of the volumes traded since inception.
“The Indian Gas Exchange is delighted to announce trade of 3,98,550 MMBTU in July,” says a press release from IGX. (That is 11.3 million cubic meters). Since December 2020, the exchange has traded 894,900 MMBTU (25.34 million cubic meters).
Also, the average price in July, ₹766 per MMBTU, was higher than ₹527 in June, but still lower than the average price in the general spot market in the country (₹960). “This indicates the competitiveness of indigenous price discovery by IGX,” the release says.
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